$50+ Billion Automotive Wheel Market - Global Forecast to 2025: Improved Vehicle Dynamics and Increased Demand for Lightweight Materials
DUBLIN, May 25, 2018 /PRNewswire/ --
The "Automotive Wheel Market by Rim Size (13-15,16-18,19-21,>21 inch), Material (Steel, Alloy, Carbon Fiber), Off-highway (Construction & Mining, Agriculture Tractors) Vehicle Type, Vehicle Class, End-Use, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The automotive wheel market is projected to grow at a CAGR of 5.52% from 2017 to 2025. The market for automotive wheels is estimated to be USD 32.87 Billion in 2017 and is projected to reach USD 50.54 Billion by 2025.
The key growth drivers of this market are the improved vehicle dynamics with an increase in the use of lightweight materials and growing vehicle production.
The alloy wheel segment is estimated to hold the largest share in the global automotive wheel market. The market growth in this segment can be attributed to the improved vehicle dynamics with lightweight alloy wheels and increased demand for lightweight materials to comply with stringent emission norms.
Carbon fiber and others segment is estimated to be the fastest-growing segment of the automotive wheel market. Rising demand for high-performance vehicle and technological innovations in the material composition are expected to drive the carbon fiber and others wheel market.
By vehicle type, the passenger vehicles segment is estimated to hold the largest share of the automotive wheel market. The majority of mid and premium passenger vehicles, which provide enhanced comfort and convenience, use alloy wheels. Additionally, factors such as the sizeable number of luxury vehicles in Europe and North America and the increasing demand for luxury vehicles in the Asia Pacific region are increasing the demand for automotive wheel market. In the Asia Pacific region, the demand for luxury vehicles is growing due to the increasing purchasing power of consumers and the growing demand for comfort and safety features in a vehicle.
The automotive wheel market for OE segment is estimated to be the largest and fastest growing market during the forecast period. Wheels are designed to last long with the vehicle life. Wheels are replaced or changed in case of accidental damage or by an enthusiast. So, the demand for the wheel is low in the aftermarket as compared to the OE market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Automotive Wheel Market
4.2 Automotive Wheel Market Share, By Country
4.3 Automotive Wheel Market, By End Use
4.4 Automotive Wheel Market, By Vehicle Type
4.5 Automotive Wheel Market, By Vehicle Class
4.6 Automotive Wheel Market, By Off-Highway
4.7 Automotive Wheel Market, By Material
4.8 Automotive Wheel Market, By Rim Size
4.9 Automotive Wheel Market for Automotive, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Improved Vehicle Dynamics and Increased Demand for Lightweight Materials
5.2.1.2 Growing Vehicle Production
5.2.2 Restraints
5.2.2.1 Decline in Enthusiast Segment - Millennial Effect
5.2.2.2 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Advanced Materials and New Compositions in Wheels
5.2.4 Challenges
5.2.4.1 Engineering Barriers
5.2.4.2 Large Unorganized Aftermarket for Wheels
5.2.4.3 Maintaining A Balance Between Performance, Cost, and Weight
6 Technological Overview
6.1 Introduction
6.1.1 Steel Wheels
6.1.2 Alloy Wheel
6.1.3 Carbon Fiber Wheels
6.2 Value Chain
6.3 Concept/Future Technologies
6.3.1 Goodyear Eagle-360
6.3.2 Michelin - X-Tweel Turf
6.3.3 Michelin - Honeycomb Airless Tires
6.3.4 Goodyear - Tires for Planetary Objects
6.3.5 Hankook - Flex-Up
6.3.6 Kumho - All Weather Tire (Maxplo)
7 Automotive Wheel Market, By Off-Highway
7.1 Introduction
7.2 Construction and Mining Equipment
7.3 Agriculture Tractors
8 Automotive Wheel Market for Automotive, By Vehicle Class
8.1 Introduction
8.2 Economy
8.3 Mid-Priced
8.4 Luxury Priced
9 Automotive Wheel Market, By End Use
9.1 Introduction
9.2 Aftermarket
9.3 OE Market
10 Automotive Wheel Market, By Vehicle Type
10.1 Introduction
10.2 Passenger Vehicle
10.3 Light Commercial Vehicle (LCV)
10.4 Heavy Commercial Vehicle (HCV)
11 Automotive Wheel Market for Automotive, By Material
11.1 Introduction
11.2 Steel
11.3 Alloy
11.4 Carbon Fiber and Others
12 Automotive Wheel Market, By Rim Size & Region
13 Competitive Landscape
13.1 Overview
13.2 Market Ranking Analysis
13.3 Competitive Situation & Trends
13.3.1 Expansion
13.3.2 Partnerships/Supply Contracts/Joint Ventures/ Agreement
13.3.3 Mergers & Acquisitions
13.3.4 New Product Developments
14 Company Profiles
- Iochpe-Maxion (Brazil)
- Superior Industries International (US)
- Accuride Corporation (US)
- Steel Strips Wheels (India)
- Hitachi Metals (Japan)
- Enkei (Japan)
- Citic Dicastal (China)
- Zhejiang Wanfeng Auto Wheel (China)
- Borbet (Germany)
- Mangels Industrial (Brazil)
- Mefro Wheels (Germany)
- Alcar (Austria)
- Kalink (South Korea)
- Ronal (Switzerland)
- ThyssenKrupp (Germany)
- Vossen Wheels (US)
- HRE Wheels (US)
- Rays (Japan)
- Weds (Japan)
- Topy Industries (Japan)
For more information about this report visit https://www.researchandmarkets.com/research/p9kvdx/50_billion?w=5
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